Monaco Property Group unveils $500 million Nalu at Gold Coast’s iconic beachfront site in Miami

There are few beachfront sites left on the Gold Coast capable of accommodating a residential development of genuine scale. Fewer still sit directly on the sand between Nobby’s Beach and Burleigh Heads.

It is that rarity Monaco Property Group is seeking to capitalise on with NALU by Monaco, the developer’s $500 million beachfront project at 122 Marine Parade, Miami, which is preparing to make its market debut.

Rather than maximise the 7,238 sqm site with hundreds of apartments, Monaco has gone in the opposite direction.

NALU By Monaco will comprise just 44 private residences, creating one of the lowest-density new beachfront apartment developments to come to the southern Gold Coast in recent years.

The site sits at the base of the Nobby’s headland, between Nobby’s Beach and Burleigh Heads and moments from Hedges and Albatross avenues, two of the Gold Coast’s most tightly held beachfront addresses.

It has around 80 metres of direct beach frontage and three street frontages, giving the design team considerable scope to create larger residences, extensive landscaping and more than 3,000 sqm of private resident amenity.

Monaco Property Group acquired the site, formerly home to Nobby’s Outlook, for $70 million in 2024.

The project is being driven by Monaco Property Group co-founder Jonathan Grasso, with BDA Architecture leading the architecture, Tom Mark Henry responsible for the interiors and LDG Landscape Architecture shaping the landscape design.

The scale of the residences is central to Monaco’s positioning of NALU, particularly for the growing cohort of Gold Coast downsizers who want to leave behind the maintenance of a large home without materially changing the way they live.

Michael Kollosche, principal of exclusive sales and marketing agency Kollosche, said NALU had been conceived specifically around that buyer.

“People moving from large beachfront and waterfront homes are accustomed to space, privacy and the ability to entertain family and friends comfortably. They want less maintenance without compromising on how they live,” Mr Kollosche said.

“That was central to the thinking behind NALU: generous residences, substantial outdoor spaces and an amenity offering that makes the move feel like an improvement in lifestyle.

“The site is a major part of that. It offers more than 7,200 square metres, 80 metres of beach frontage and three street frontages, with the headland immediately behind it. The Nobby’s Beach retail and dining precinct is also within 450 metres. That combination is exceptionally difficult to replicate.”

That local downsizer market is already forming part of the early enquiry.

Kollosche said interest had come from owners of beachfront homes along nearby Hedges Avenue and Albatross Avenue, as well as buyers from Brisbane, Sydney, Melbourne and New Zealand.

“For local owners, the appeal is being able to remain connected to the coastline and community they love, with less responsibility for maintaining a large property,” he said.

“For buyers coming from elsewhere, it is the opportunity to secure a residence with the proportions of a home, supported by extensive private amenity, security and a dedicated concierge service.”

The numbers underline just how far Monaco has pushed the house-like apartment concept.

Residences range from 237 sqm to more than 1,400 sqm, with the layouts designed around permanent living rather than the more compact holiday apartment product historically associated with parts of the Gold Coast beachfront.

Available residences are priced from $6.95 million for 293 sqm of living, while the collection will culminate in a six-bedroom Ultra-Penthouse priced above $30 million.

Twelve residences will have their own private rooftop terraces, each incorporating a swimming pool, outdoor kitchen and dining area. The rooftop spaces effectively create another level of private living and entertaining above the residences.

The approach reflects the continued evolution of the southern Gold Coast apartment market, where larger owner-occupier residences have increasingly replaced the smaller investor and holiday-focused apartments that characterised previous development cycles.

NALU’s comparatively small number of apartments has also allowed a significant portion of the site to be dedicated to resident amenity.

More than 3,000 sqm will be reserved for lifestyle and wellness facilities, headlined by a private bathhouse incorporating a thermal mineral pool, two cold plunges, snow room, sauna, steam room and red-light therapy suite.

There will also be a Technogym-equipped gymnasium, reformer Pilates and yoga studio and two resort-style swimming pools.

Beyond wellness, residents will have access to a private lounge with kitchen and dining facilities, a golf simulator and a Chairman’s boardroom with integrated conference facilities, alongside concierge services.

For Grasso, the ambition is for NALU to operate more like a permanent beachfront home than a traditional apartment development, while responding to the significance of a site that has long formed part of the Miami beachfront.

“This is a project we want to stand the test of time. Every decision, from the scale and architecture to the landscaping, wellness and amenity, has been considered around how people will live here, both now and well into the future,” Grasso said.

“The scale and rarity of the site presented an opportunity to do something not seen before, to create a more boutique collection of larger beachfront residences, with greater privacy, more generous amenity and an uncompromising focus on quality.

“Nobby’s Outlook is part of the Gold Coast’s history. We recognise the responsibility that comes with this location and want NALU to make an enduring contribution to it.”

Unlike many projects entering the market at launch stage, works at NALU are already underway.

G&H Civil has been appointed to undertake the early works program, while Monaco Property Group intends to deliver the development through its construction arm, EastBuild Partners, supported by project and construction management group Eastview.

The delivery team will be led by construction industry veteran Graham Goldman, with Eastview bringing more than three decades of project and construction management experience, including work across a number of major Gold Coast residential developments.

The commencement of works gives Monaco an important point of difference as NALU enters a Gold Coast prestige apartment market increasingly focused not only on design, location and amenity, but on certainty of delivery.